Investment Banking - (F) - Q4

Course Content

— Session 1:

Module 0 - Administrative topics

Module 1 - The demystification of the (financial & operational) modeling

Module 2 - Valuation – the marriage of science and art

Bonus Module - Deep dive on comps

— Session 2:

Module 3 - Bespoke process architecture as key success factor for optimal private M&A transaction outcomes

Module 4 - Basics, trends and pitfalls on the intersection of the legal world and M&A – the relevance of the SPA

— Session 3:

Module 5 -Generating Alpha – the importance of Private Equity as an asset class

— Session 4:

Module 6 - Public M&A – the Königsdisziplin of dealdoing

Module 7 - Quo vadis activism – an American Solution to an American problem?

— Session 5:

Modelling workshop

Wrap-up and exam preparation

Intended Learning Outcomes and Competencies

Objective is to offer an inter-disciplinary education that puts corporate finance elements in context with a broad variety of real life situations ranging from Investment Banking to Private Equity to the corporate world. The language is an almost universal one, as is the modus operandi, and emphasis will be put on realistic problem solving as opposed to textbook approaches.

Accordingly, the course will also cover topics such operational and financial modeling which ultimately are a basic requirement for not only understanding valuation techniques but also for example to assess value creation in a Leveraged Buyout scenario.

Enriched with multiple and diverse examples from Jan Caspar Hoffmann’s extensive deal doing over the last more than 2 decades, the course will illustrate applied theory in a global and cross-border setting.

In order to achieve maximum practical relevance, select high profile guest speakers covering various disciplines will be invited to contribute to the sessions.

Course target is to enable students to understand – and be able to apply – advanced Corporate Finance topics in a real life setting irrespective of the domain in which it takes place.

The course is complementary to various other courses offered, namely “Private Equity and Venture Capital”, “Mergers & Acquisitions and Other Corporate Restructurings” and “Investments” with marginal, if any, overlap.

Form of Examination

Literature

Pre-reading of lecture materials is not required

Complimentary reading: suggested but not required
Rosenbaum, Joshua and Joshua Pearl. Investment Banking: Valuation, Leveraged Buyouts, and Mergers and Acquisitions. Hoboken, N.J.: Wiley, 2009 Koller, Tim;
Goedhart, Marc and David Wessels. Valuation: Measuring and Managing the Value of Companies. 5th Ed. Hoboken, N.J. Wiley, 2010